• Essex Property Trust average return on tangible equity for 2023 was 8.4, a 31.87% increase from 2022.
• Essex Property Trust average return on tangible equity for 2022 was 6.37, a 10.41% increase from 2021.
• Essex Property Trust average return on tangible equity for 2021 was 7.11, a 25.55% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.